Why File for Bankruptcy?

1
WHY FILE FOR _at_BankruptcyDC
BANKRUPTCY?

• A Guide to The Benefits of Bankruptcy Filing

2
Reasons to
File for Bankruptcy
3
Federal bankruptcy laws exist to provide
important protections to debtors
4
If you are struggling with debt, there are lots
of reasons why bankruptcy just makes sense
5
1
Bankruptcy can give you
a WAY out of DEBT
6
Anyone can get into financial trouble because of
medical bills, a job loss or other unexpected
expenses
7
If you are in debt, you should not have to suffer
the rest of your life if you cannot pay it back
8
Bankruptcy provides a solution to help you get
out of debt and move on with your life
9
2
Bankruptcy STOPS
Creditor Calls and Harrassment
10
One of the biggest benefits of filing for
bankruptcy is all collection calls MUST STOP
IMMEDIATELY
11
Bankruptcy puts an end to harassment and
creditor efforts to collect
12
Complaints about debt collectors by consumers are
second only to complaints about auto dealers
Source consumerfed.org/news/569
13
3
Bankruptcy Can Stop
Foreclosure, Repossession Eviction
14
As soon as you file bankruptcy, all debt
collection must stop- including foreclosure,
repossession and eviction
15
When you resolve debts through bankruptcy, you
may be able to keep your house and your car
16
If nothing else, bankruptcy buys you time to work
with your landlord or lender to find a solution
17
4
Bankruptcy Can Stop or Prevent
Wage Garnishment or Liens on Property
18
Creditors who sue and get a judgment against you
could put a claim on your property or take money
right out of your paycheck
19
Bankruptcy can resolve the debts to stop
garnishment or prevent garnishments and liens
from occurring in the first place
20
You can protect your property and hard-earned
money
21
5
Bankruptcy Allows You to
Protect Your Future
22
The bankruptcy code has provisions in it that
protect your retirement and that let you keep
equity in your home
23
Dont cash in a 401K, IRA or other retirement
account to pay debts when bankruptcy can resolve
them and protect your future
24
Dont pay credit card debt with a home equity
loan or second mortgage when you can keep your
home safe and resolve debts through a bankruptcy
filing
25
7
Debts Can Be
Forgiven or Reduced
26
In a chapter 7, eligible debts can be
discharged--- you wont have to struggle to pay
them any more
27
In a chapter 13, you can create a repayment plan
to repay debts
28
The plan will be more affordable and any eligible
unpaid balances can be discharged once the plan
is complete
29
8
Bankruptcy Can Help
Fix Your Credit
30
A bankruptcy that resolves your debts will put a
stop to repeated negative information being
posted on your credit report each month
31
You can get a new credit card after bankruptcy,
pay on time and start rebuilding your finances
32
9
Bankruptcy Gives You
a Bright Future
33

• With bankruptcy, you can have a clean financial
  slate

34
Get rid of the troublesome debts that you have
and start to move forward towards a better
financial future
35
www.Lee-Legal.com
Bankruptcy Lawyer in Virginia and Washington, DC
[phone] [phone]
36
Content provided by Best Legal Practices
Content provided by Best Legal Practices